Ibis said Wednesday it has emerged from stealth with a $250 million credit facility from FalconX, which it plans to use to support structured financing for eligible crypto trading firms.
The announcement did not say whether any amount had been drawn or, if so, how much. It also did not disclose pricing, maturity, collateral terms or draw conditions, or establish whether the full $250 million is committed and available.
Ibis also said it closed a pre-seed round led by FalconX. The company did not disclose the amount raised; Anchorage Digital and Innovating Capital were among the participants.
Ibis says its service will connect companies seeking financing with institutional capital providers and handle the structuring, tokenization, risk management and servicing of credit transactions. The company said Anchorage Digital Bank, N.A., would provide custody, banking and design support. Anchorage Digital CEO and co-founder Nathan McCauley said collateral would be kept in regulated custody at the bank. Innovating Capital will advise on credit, transaction structuring and strategic development, Ibis said.
Ibis says traditional lending systems can be a poor fit for emerging industries when borrowers have complex risk profiles or changing collateral. Separately, Ibis founder and CEO Cooper Emmons said, “Today, many high-quality businesses with strong fundamentals are underserved.” FalconX co-head of global markets Joshua Lim said, “Access to reliable, institutional-grade credit is an important part of the continued maturation of digital assets.”
The company says it will begin in crypto capital markets, then pursue financing in areas involving GPUs, robotics and venture capital. Ibis also plans to add institutional lenders and other capital providers to its network.
